Spyglass Pharma (NASDAQ:SGP) Stock Rating Reaffirmed as "Buy" by HC Wainwright

Spyglass Pharma (NASDAQ:SGP - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at HC Wainwright in a note issued to investors on Wednesday, Benzinga reports. They presently have a $37.00 price target on the stock. HC Wainwright's price objective would suggest a potential upside of 41.44% from the company's current price.

Several other analysts have also recently commented on SGP. Wall Street Zen cut Spyglass Pharma from a "hold" rating to a "sell" rating in a report on Saturday, October 3rd. Raymond James Financial initiated coverage on Spyglass Pharma in a report on Friday, August 14th. They issued an "outperform" rating and a $39.00 price target for the company. Weiss Ratings cut Spyglass Pharma from a "sell (e+)" rating to a "sell (e)" rating in a report on Friday, September 25th. Finally, UBS Group restated a "buy" rating on shares of Spyglass Pharma in a report on Monday, October 5th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Spyglass Pharma presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.00.

Spyglass Pharma Price Performance

SGP opened at $26.16 on Wednesday. The stock has a market capitalization of $874.53 million and a price-to-earnings ratio of -3.74. The business has a 50-day moving average of $26.58 and a two-hundred day moving average of $23.28. Spyglass Pharma has a 12 month low of $17.06 and a 12 month high of $32.44.

Spyglass Pharma (NASDAQ:SGP - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.11). Equities research analysts anticipate that Spyglass Pharma will post -2.55 earnings per share for the current year.

Institutional Trading of Spyglass Pharma

A number of institutional investors have recently modified their holdings of SGP. Bank of New York Mellon Corp purchased a new stake in shares of Spyglass Pharma during the 2nd quarter worth about $533,000. Bank of America Corp DE purchased a new stake in shares of Spyglass Pharma during the 1st quarter worth about $726,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Spyglass Pharma during the 1st quarter worth about $308,000. First Light Asset Management LLC purchased a new stake in shares of Spyglass Pharma during the 1st quarter worth about $9,716,000. Finally, Affinity Asset Advisors LLC purchased a new stake in shares of Spyglass Pharma during the 1st quarter worth about $6,478,000.

Spyglass Pharma Company Profile

SpyGlass Pharma, Inc is a clinical-stage ophthalmic pharmaceutical company developing sustained-release drug-delivery technologies for the treatment of eye diseases. The company's platform is designed to deliver medication inside the eye over extended periods, with the goal of reducing reliance on daily eye drops and improving treatment adherence.

SpyGlass Pharma's lead development programs focus on glaucoma and ocular hypertension, conditions in which elevated intraocular pressure can damage the optic nerve and lead to vision loss.